Alimony Calculator For Virginia
Description
How to fill out Affidavit Of Defendant Spouse In Support Of Motion To Amend Or Strike Alimony Provisions Of Divorce Decree Because Of Obligor Spouse's Changed Financial Condition?
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FAQ
The formula stated in § 16.1-278. is: (a) 30% of the gross income of the payor less 50% of the gross income of the payee in cases with no minor children and (b) 28% of the gross income of the payor less 58% of the gross income of the payee in cases where the parties have minor children in common.
A spouse is more likely to receive an award of spousal support with no defined duration, where spousal support will continue until death of either party or remarriage, if there was a long-term marriage and the spouse seeking support is nearing or at retirement age, or unable to become sufficiently employed to provide ...
Alimony, which is also referred to as spousal support, is the payment of financial support by one spouse to the other and can be awarded in a divorce, annulment, or separate maintenance action. However, alimony is not granted in all divorces in Virginia.
Alimony (Spousal Support) Is Not Tax-deductible in Virginia For any divorce after December 31, 2018, payor spouses can no longer claim alimony as a tax deduction, and recipient spouses don't have to claim spousal support as taxable income.
Typically, payments of spousal support are tax-deductible for the person making the payment. Spousal support payments are taxable income in Virginia to the person receiving the payment. Whether someone is the payer or recipient of alimony, it is important to discuss the consequences with a tax expert.